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Environment

Jennifer Dudley-Nicholson

Steel trap: Australia must make green metal or risk ore

Australia Dean Lewins Climate Energy Finance Tim Buckley iron ore

Electric arc furnaces powered by renewable energy could be used to produce green steel in Australia. (Dean Lewins/AAP PHOTOS)

Australia must act urgently to build a domestic green steel industry or could risk losing its $120 billion iron ore export market, a report has found.

Climate Energy Finance issued the warning on Thursday in a 69-page report into the sector that recommended greater support to take the risk out of early projects and changes to put green metals on a level playing field with imports.

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